Vestaron continues to collect on its Series C funding, adding another $10M to its funds. You may recall hearing about Vestaron in May when the startup closed on $82M.
Who invested? Grosvenor Food & AgTech added the $10M boost, joining Ordway Selections, Cavallo Ventures, Agronautic Ventures, Fortistar, Endeavor8, Novo Holdings, Northpond Ventures, CGC Ventures, iSelect, and Syngenta Ventures to round out the Series C round.
Picking up momentum: Vestaron recently gained approval to sell biopesticide in Mexico. Stateside, it’s awaiting FDA approval on a second line of products.
The biologicials market is ramping up. Biopesticides, biofertilizers, and biostimulants are consuming a larger piece of the pie as growers focus on sustainable practices.
Since 2017, this market has increased at an annual growth rate of 14% and is estimated to reach $12.86B this year.
Vestaron’s mission is to improve “safety, efficacy, and sustainability of crop protection through the development of a novel class of peptide-based biopesticides.”
Pep-whats? “Peptides are small, naturally-occurring proteins that have proven modes of action, and therefore the same efficacy as traditional synthetic products, but offer the safety and environmental protection of biologicals.”
Vestaron provides alternatives that are easy on honeybees, other critical pollinators, fish, and mammals at prices similar to leading chemical pesticides.
Money well spent: The additional funding will allow Vestaron to expedite its development of peptide-empowered solutions, each with a unique mode of action.
Soundbite: “Vestaron’s platform of effective peptide-based solutions are on a path to transform crop protection,” said Monty Bayer of Grosvenor Food & AgTech.